DUBLIN--(BUSINESS WIRE)--The "Global Bank Kiosk Market with COVID-19 Impact Analysis, by Type (Single-function Kiosk, Multi-function Kiosk, Virtual/Video Teller Machine), Location (Indoor, Outdoor), Offering, Distribution, and Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The bank kiosk market was valued at USD 744 million in 2021 and is expected to reach USD 1,311 million by 2026; it is anticipated to grow at a CAGR of 12.0% during the forecast period.
Multi-function kiosks to account for the largest share of bank kiosk market in 2020
Based on the type, the bank kiosk market has been divided into single-function kiosk, multi-function kiosk, and virtual/video teller machine. Multi-function Kiosk held the highest share in 2020. Factors such as less capital expenditure in application development, equipment purchases, installation, and maintenance are pushing the banks to adopt multi-function kiosks over single-function kiosks, thereby driving the growth of the bank kiosk market.
Indoor segment to account for the largest share of bank kiosk market during the forecast period
On the basis of location, the bank kiosk market is categorized into indoor and outdoor. Indoor bank kiosks are used in places with limited space and can help attract customers if placed in a crowded place. The growing interest in automation and self-service technologies in the banking and financial service sector is contributing to the larger share of indoor kiosks.
APAC is expected to register the highest CAGR in the market during the forecast period
Among all regions, APAC is expected to register the highest growth in the bank kiosk market during the forecast period. The market for bank kiosks in APAC mainly consists of India, China, Japan, South Korea, and Australia.
Governments in APAC countries are making efforts to enhance the development of the fintech industry and provide new, innovative banking solutions. The main aim behind the increased adoption of fintech is to attract international innovators in the market and take banking to the next stage.
The deployment of self-service kiosks is also increasing, especially for the population that prefers banking through interactive kiosks than traditional banking. The market for self-service kiosks in APAC is at the growth stage. Increasing awareness among customers about the security and reliability of banking kiosks is going to boost the growth of the bank kiosk market.
Market Dynamics
Drivers
- Rising demand for self-service in banking and financial services
- Enhanced customer services offered by bank kiosks
- Reduction in overall operational costs
Restraints
- Increasing use of mobile devices for banking services
- High installation costs and need for regular maintenance
- Increasing incidents of cybercrimes
Opportunities
- Introduction of NFC-based contactless payments in banking sector in APAC region
- Increasing investments by companies in Asia Pacific
Challenges
- Controlling cybersecurity threats
- Continuously growing demand for improved technology
Companies Mentioned
- AGS Transact Technologies Ltd.
- Auriga SpA
- Aurionpro Solution Limited
- Axiomtek Co., Ltd.
- Cisco Systems, Inc.
- Diebold Nixdorf
- Emerico Limited
- GRGBanking
- Genmega Inc.
- Glory Limited
- Hitachi-Omron Terminal Solutions, Corp.
- Hyosung TNS Inc.
- Iagona
- Kal ATM Software GmbH
- NCR Corporation
- Oki Electric Industry Co., Ltd.
- Olicom
- Partteam & Oemkiosks
- Phoenix Microsystems
- Printec Group
- Shenzhen Sui-Yi Touch Computer Co., Ltd.
- Shenzhen Yihua Smart Equipment Technology Co., Ltd.
- Star Micronics Co., Ltd.
- Veripark
- Wavetec
For more information about this report visit https://www.researchandmarkets.com/r/ntouvr
